"newshour" correspondent spencer michels has our story. >> reporter: ever since 1851, sailors and well-healed skippers have raced through the water in ever more expensive, ever-more high tech sailboats in pursuit of the coveted america's cup. to the victor go the spoils, and in 2010 larry ellison, founder of software giant oracle, won the cup for america. ellison's prize, besides bragging rights, was to get to choose where the race would be held next. his choice was to bring the contest to his home waters: san francisco bay. ellison concocted a series of regattas all around the world-- for competing teams from 11 countries-- designed to build enthusiasm and excitement for the main event: america's cup 2013, where 72-foot boats will plough through the bay. these preliminary races featured boats that measure about 45 feet long, with carbonfibre hulls and wing sails, as described by racing announcer andy green. they're the same sailors. they're the same teams, the boats are just a little bit smaller. so essentially it's their practice racing. this is just to get everyone excited and passionate a